THE PRINCIPAL COMMISSIONER OF INCOME TAX-1 vs. AXIS BANK LTD.

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TAXAP/161/2019HC GujaratGJHC24014724201909 September 2019Bench: HONOURABLE MR. JUSTICE J.B.PARDIWALA,HONOURABLE MR. JUSTICE A.C. RAO2 pages
AI SummaryWithdrawn

What did the High Court hold?

The High Court held that the appeal was not pressed by the Revenue due to the low tax effect, in accordance with Circular No. 17/2019. The circular establishes monetary limits for appeals, with appeals before the High Court having a monetary limit of Rs. 1,00,00,000. Since the tax effect in this case was below this threshold, the Revenue chose not to press the appeal. The court disposed of the appeal accordingly. The court also reserved the liberty for the Revenue to revive the tax appeal in case of any difficulty. No specific findings were made on the merits of the original dispute.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax-1 (Revenue) against Axis Bank Ltd. (Assessee). The assessment year(s) are not specified. The appeal challenges an order or action from a lower authority, the details of which are not provided. The amount in dispute is also not explicitly stated, but the appeal was notified due to a low tax effect. The procedural history indicates that the appeal was listed for an appropriate order, and the court considered Circular No. 17/2019 dated August 8, 2019, issued by the CBDT.

What were the issues?

1. Whether the appeal should be dismissed due to low tax effect, considering the policy outlined in Circular No. 17/2019? (Question of law). Assessee's contentions: The assessee did not present any arguments as the appeal was not pressed. Revenue's contentions: The Revenue submitted that the appeal was not pressed in view of the low tax effect, as per Circular No. 17/2019. The Revenue relied on Circular No. 17/2019, dated August 8, 2019, which sets monetary limits for filing appeals before various authorities, including the High Court at Rs. 1,00,00,000.

AI-generated summary — verify with the full judgment below

C/TAXAP/161/2019 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL NO. 161 of 2019 ========================================================== THE PRINCIPAL COMMISSIONER OF INCOME TAX-1 Versus AXIS BANK LTD. ========================================================== Appearance: MRS MAUNA M BHATT(174) for the Appellant(s) No. 1 DARSHAN R PATEL(8486) for the Opponent(s) No. 1 ========================================================== CORAM: HONOURABLE MR.JUSTICE J.B.PARDIWALA and HONOURABLE MR.JUSTICE A.C. RAO

Date : 09/09/2019

ORAL ORDER (PER : HONOURABLE MR.JUSTICE J.B.PARDIWALA) 1. The Registry has notified the appeal for the purpose of passing an appropriate order. The captioned appeal has been notified because of the low tax effect. The appeal is to be disposed of keeping in mind the Circular No.17/2019, dated 8th August, 2019 issued by the Government of India, Ministry of Finance, Department of Revenue, Central Board Direct Taxes, New Delhi. 2. This tax appeal is not pressed in view of the low tax effect having regard to the Circular No.17/2019, dated 8th August, 2019 issued by the Government   of   India,   Ministry   of   Finance,   Department   of   Revenue, Central Board Direct Taxes, New Delhi. 3. According to the new policy as reflected from the Circular referred to above, the table for monetary limits is as follows:­ Page 1 of 2

C/TAXAP/161/2019 ORDER Sr. No. Appeals/SLPs in Income­tax matters Monetary Limit (Rs.) 1 Before Appellate Tribunal 50,00,000 2 Before High Court 1,00,00,000 3 Before Supreme Court 2,00,00,000 4. In view of the aforesaid, the appeal is disposed of accordingly. In case of any difficulty, we reserve the liberty for the Revenue to revive the tax appeal. (J. B. PARDIWALA, J) (A. C. RAO, J) aruna Page 2 of 2

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